If you wish to calculate car loan EMI calculator in India, there are lot many websites offering this service. But 90 % of them ask for your name, car that wish to buy etc. These details are unnecessary because when we are calculating car loan, all that a website needs is
1. Your down payment amount – The amount that you are ready to pay up front.
2. The bank interest rate. Usually it is annual interest rate. varies from Bank to bank. Just visiting your bank website will give this information. For example, SBI bank rate interest details for car loan is available here.
3. The actual car price. This is on road price plus accessory price.
4. The time period in which you want to pay back the loan.
With these three information, I found This website the most useful.
Just enter the above four details and this website gives back the following very useful information
Monthly Payment – the monthly instalment that you need to pay.
Total Interest Payment – How much total interest will you be paying for the car.
Total Amount to Pay – interest + actual car price.
I also found that carwale emi calculator pretty handy as well. There, you will get a table of how much will be the emi if you are planning for repayment in one year, two years, three years etc.
But it lacks the facility to calculate the actual car price minus down payment amount.